If you are in the process of closing on a home that you are buying or selling, you may want to consider hiring a closing attorney to look at things before deciding to go with a realtor or a real estate closing attorney. With such a big, important transaction with a lot at stake, this article might help you to decide which the better option is for you to pursue.
#1. Possibly Saving on Fees
The first thing to keep in mind is that you can very likely save on the fees for this transaction if you choose a closing attorney over a real estate broker. When considering who to hire, you should take a look at the closing fees in terms of percentages to see what you will be paying in each situation. In the state of California, it is typical for a realtor to charge 5-6% on the closing of a transaction. However when you hire a closing attorney, you can oftentimes pay much lower than that at around 2-3% of the overall cost. Of course this is not paid out in a flat fee, so it is important to do your due diligence.
#2. Peace Of Mind
The second benefit you may want to consider is that with a closing attorney you get all of the legal expertise that you might not have considered that you even needed with a realtor. With a real estate attorney, you sort of get a hybrid specialist who knows both the law and the real estate expertise to help you make sure everything goes through correctly and without any legal quagmires.
#3. Close The Mortgage
Sometimes there can be little issues that pop up here and there when a mortgage is on the line, with a closing attorney, this is what they do and are very good at talking to both sides and pushing the deal through. This is something that realtors do as well, however they don’t always know all the angles or little hang-ups that might cause the deal to go through. Our attorneys have seen all of these unique scenarios that you may not be thinking of, and it’s oftentimes worth it to hire a second pair of eyes who can see these unseen angles that might popup when you least expect it.
#4. Attorneys Can Make Amendments
Another factor to consider when deciding on going with a closing attorney or with a realtor is that attorneys can actually make amendments to the documents themselves, so that in the event of an error with the title, deed, or the sales contract needs to be amended, or issues with non-standard forms, a closing attorney can help remedy all of these issues. If you are sure its going to be a “clean” transaction and you won’t face any of these problems, you can be relatively sure that you will not need an attorney, but if you want to cover all your bases, consider getting a lawyer for this.
#5. Do You Need Legal Advice
This goes along with the other points, but if you think for whatever reason that you are going to need legal advice or any sort of legal work at all, even as simple as changing documents, try your best to be prescient in this regard. Having the foresight and wisdom to look at the details of your particular transaction can mitigate a lot of unnecessary headaches that may come down the line and simply blind-side you.
Closing a deal can be one of the most important transactions that you ever do in your life, so make sure that you do your research and choose well. With all of these questions going through your head, you will want to take some time to consider the pros and cons of hiring a closing attorney for your real estate needs, and we hope this article has helped you to make your decision.
Attorneys Real Estate Group